Borgward is an automobile manufacturer originally created by Carl F. W. Borgward. The original company, based in Bremen inside Germany, ceased operations in the 1960s. The Borgward group made four brands of vehicles: Borgward, Hansa, Goliath and Lloyd.The marque has because been revived by Carl Borgward's grand son, Christian Borgward, together with his lover Karlheinz L. Knöss, with assistance from Chinese language investment, and unveiled the firm's first new car throughout over 40 years, the BX7 at the actual 2015 International Motor Present.The origins of Bremen's most significant auto-business return to 1905 with the business in nearby Varel with the "Hansa Automobilgesellschaft" and the muse in Bremen itself of "Namag", maker of the Lloyd car. These two businesses merged in 1914 to the "Hansa-Lloyd-Werke A. G. ". After the war, in the troubled financial status then confronting Germany, the business failed to prosper and because of the late 1920s faced chapter 7. For Carl Borgward, already the successful creator of the Goliath-Blitzkarren business, the misfortunes of Hansa-Lloyd presented a chance greatly to expand this scope of his car business, and he took control of it.
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The initial "automobile" Carl Borgward created was the 1924 Blitzkarren (super cart), a sort of teeny three-wheeled van with two hp (1. 5 kW), which was an enormous success on the market gap it filled. Traders with a small budget bought for delivery. The Reichspost ordered most of them for postal service.In 1929, Borgward became the representative of Hansa Lloyd AG having had time to merge his "Goliath-Werke Borgward & Co. " with "Hansa-Lloyd. The small Goliath-Blitzkarren had chances are evolved into the nonetheless three wheeler timber presented synthetic leather bodied 5 as well as 7 hp Goliath Founder. Borgward turned his focus on the other businesses and also led the development in the Hansa Konsul. In February 1937, there came the brand new Hansa Borgward 2000 as well as in 1939 the identify was shortened to Borgward 2000. The 2000 model was as well as the Borgward 2300that stayed in production until 1942.After World War II, in 1946 Carl Borgward used a lot of the brand names from firms he had acquired over the years to found three separate companies: Borgward, Goliath and Lloyd. This was intended to increase the amount of steel allocated to his business at a time of austerity and rationing. For many purposes the lenders would be run being a single entity, but in a business operated with a man to whom delegation failed to come naturally the growth of legal entities nonetheless added unhelpful layers of complexity from the 1950s and encouraged a broadening from the range which finally proved financially unsustainable while using sales volumes achievable. In 1949 company introduced the Borgward Hansa 1500.One of several top engineers at Borgward coming from 1938-1952 was Dipl. Ing. Hubert M. Meingast.Production of the Borgward Isabella started in 1954. The Isabella would become Borgward's most widely used model and remained in production for your life of the organization. In 1960 the Borgward P100 has been introduced, equipped with pneumatic suspension.Borgward introduced a line of 1500 cc sports racers in the late 1950s, with the 16-valve engine from these to become successful Formula Two power unit (that has been also used by a few F1 privateers in 1961).Although Borgward pioneered technical novelties inside the German market such while air suspension and automatic transmission, the company had trouble competing in the marketplace. While larger companies just like Opel and VW took advantage of economies of scale and kept their prices low to get market share, Borgward's cost structure was even more than necessary for its measurement, as it basically operated as four tiny independent companies and do not implemented such basic charge reduction strategies as joint development and parts sharing involving the company's makes. Borgward suffered quality problems likewise. The Lloyd Arabella was technically advanced as a water-cooled boxer with front wheel drive, but plagued with problems for example water leakage and gearbox secrets. Lloyd lost money on the car although it was more expensive compared to its direct competitors.In 1961, the company was pressured into liquidation by credit card companies. Carl Borgward died within July 1963, still insisting the company ended up technically solvent. This proved to be true inside sense that after this creditors were paid completely, there was still 4. 5 million Marks left from the business.
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Studies of difficulties at Borgward surfaced within the article that appeared throughout Germany's leading news publication, “Der Spiegel” on 14 December 1960”. The very long, detailed, and in places recurring Spiegel article was highlighted with a picture of Borgward, cigar in mouth, on the magazine’s entrance cover. It was strongly essential of Carl Borgward's small business approach, and included many with the arguments later advanced to explain or justify the business's demise. The widest range involving cars from any producer in Germany, produced by three until recently operationally autonomous companies (Borgward, Goliath and Lloyd) ended up being supporting a turnover connected with only 650 million Grades, placing the overall sales value from your combined Borgward auto organizations only in fifth placement among Germany's auto-makers. The 70-year-old Carl Borgward's "hands-on" insistence by using an increasingly manic proliferation regarding new and modified products featuring adventurous, but under-developed technological innovative developments ("fast manisch[e] Konstruierwut") afforded rise to components which too much did not work, broke down or fell into apart, resulting in massive charges for pre-delivery remediation and/or article delivery warranty work that found their in the past to the company.The December 1960 Spiegel article wasn't the only serious general public criticism targeting Borgward at the moment: suddenly stridently negative (in case more succinct) comments also resulted in in the influential mass-market Bild newspaper and in television studies. Critical media commentaries likewise appeared concerning large loans on the Borgward Group provided through the local Landesbank.It is apparent which the business was confronting cash-flow difficulties at the end of 1960. Capital intensive businesses including auto manufacturing use their particular expensive machines and tools most efficiently whenever they use them constantly in full capacity, but the car market in Europe inside the 1950s/60s was more in season than today, with sales diminishing in Winter, then peaking in the early summer months: Borgward’s inventory of unsold cars at the end of 1960 was greater than usual, reflecting ambitious growth plans, most obviously in respect of the usa market[11] The December 1960 Spiegel article speculated that from the 15, 000 Borgward cars ordered by the North American dealers throughout 1960 (and from the 12, 000 delivered to them) 6, 000 might have being taken back following a slump in American demand. (Borgward was not the only real European auto maker hit by way of a North American slump successful for imported cars in the course of 1960. In the same 12 months two ships carrying Renault Dauphines were turned back mid-Atlantic because the docks in The big apple were overcrowded with unsold Dauphines.
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Towards the end of December 1960 Borgward approached the lender for a further a single million Marks of credit ratings, the loan to be backed by the guarantee from the Bremen local government which initially the Bremen senators decided provide. However, following the flood involving critical press comment this senators withdrew their guarantee. They now required Carl Borgward to pledge the organization itself to the state in substitution for the guarantee. After a tense 13-hour meeting widely reported within a still hostile media, Borgward agreed to this senate’s terms on four February 1961, thereby averting the bankruptcy on the business.The Bremen Senate in addition insisted on appointing its very own nominee as chairman of the company’s supervisory board. The man they decided to go with was Johannes Semler whom reports generally describe like a “Wirtschaftsprüfer” (public auditor), though this designation, especially once translated straight into English, does less than full justice to the breadth of Semler’s job. He had studied rules at university and worked initially like a lawyer. The scion of a respected Hamburg political family, in 1945 he had himself been a founding member of the centre-right CSU get together, and was a member of the Bundestag between 1950 as well as 1953. Despite his Hamburg roots, Semler was by these times based in Munich, with a network of contacts within the Bavarian establishment that possibly included fellow CSU politician plus the future German chancellor, Ludwig Erhard, who in 1948 had succeeded Semler in the top administrative position in the Bizone. The appointment of Johannes Semler because the representative of the Bremen senators to chair the Borgward supervisory table would, in retrospect, contribute to the dispute that followed the Borgward a bankruptcy proceeding.
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In 28 July 1961 Semler, as Chairman of your supervisory board joined the directors of the three companies Borgward, Goliath and Lloyd to instigate proceedings for that establishment of a “Vergleichsverfahren”, which would have provided for the court sanctioned scheme of arrangement enabling the business enterprise to continue to trade while concurrently protecting the interests involving creditors. [16] Two months in the future, however, in September 1961, the Borgward and Goliath firms were declared bankrupt, followed in November because of the Lloyd business. Subsequent “conspiracy theorists” get suggested that Semler, for reasons of her own, never had any purpose of allowing the Borgward auto-businesses to be able to survive.
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